Student Loans Weighing you Down?

Over 40 million Americans currently carry student loan debt with average balances of $29,000. If medical school was part of the equation that number could easily triple or quadruple. If you find yourself grappling with hefty student loans and all the decisions that come along with them, make sure you fully understand the details of your loans and all of your options before devising a plan to deal with your debt. The details can be overwhelming, so we’ve done our best to break down some key points for you here. The Basics There are a number of different types of student loans available to borrowers. If you’re in the process of applying for a student loan, understand the details before accepting the loan. If you already have student loans, understand consolidation options and payback choices so you know how to properly deal with them. Federal Loans are loans offered by the federal government which offer benefits that are not available if taking a loan out from a private institution. These include flexible repayment options (see below), deferment (postponing payment for Read on! →

Financial Planning Shouldn’t Stop at Retirement

Most of us understand we need to give careful consideration to planning, saving and preparing for the future.  This typically includes planning for the purchase of our first house, saving for the education of our children, mapping out our careers, our retirement, and even our eventual death. However, I’ve seen too many consumers get to retirement, breathe a sigh of relief and then put their lives on auto-pilot, thinking they’ve handled all the big decisions.  The reality is that many times the decisions which will be faced in the years between retirement  and death can be some of the most overwhelming, impactful and costly decisions of our lives. When these things are left to chance, or are assumed it won’t happen to us, we effectively take ourselves out of the driver’s seat and hand over the controls to someone else.  If you’ve spent the first 50 or 60 years of your life trying to plan and prepare for what’s ahead, why would you leave the rest of your life to chance? When you first had children, you likely began saving Read on! →